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Identify the truthfulness of the following statements. I. Diminishing marginal utility and increasing total utility are incompatible with each other.
II) When marginal utility is negative, total utility is decreasing.
Toyota Production System
An integrated socio-technical system developed by Toyota, aimed at efficiently organizing manufacturing and logistics to improve customer satisfaction and minimize waste.
Total Production Streamlining
The comprehensive optimization of all aspects of the manufacturing process to enhance efficiency, reduce waste, and increase productivity.
Total Process Simplification
The systematic reduction of complexity in business processes with the aim of improving efficiency, effectiveness, and flexibility.
Level Schedules
Scheduling products so that each day’s production meets the demand for that day.
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